phrase · also: products/CompOps, PCO
products and completed operations
In plain English
Coverage for bodily injury or property damage caused by your products after they've left your hands or your work after it's been completed.
On the GL dec page you'll see two aggregates: General Aggregate and Products/CompOps Aggregate. They're separate buckets for separate kinds of claims. Contractors and manufacturers especially need to track both.
What it covers
Liability for injury or damage caused by the insured's products after they leave the insured's possession, or by the insured's work after it has been completed or abandoned.
What it does not cover
It does NOT cover the cost of repairing or replacing the defective product or work itself. That's the 'your product' / 'your work' exclusion. Only the resulting damage is covered.
Where it trips people up
The 'completed operations' aggregate is sometimes set lower than the general aggregate. For contractors with long completed-ops tails (residential remodel, plumbing), match it to the general aggregate.
The technical version
Coverage under CGL Coverage A for bodily injury or property damage included in the products-completed operations hazard, with a separate aggregate limit.